GVK

Uttarakhand Governor Lt Gen Gurmit Singh (Retd) made a safe emergency landing in Srinagar on Sunday due to a technical glitch in his helicopter. The precautionary landing at the gvk helipad ensured the governor's safety. He was subsequently taken to the Police Guest House.

gvk Reddy's daughter, Shalini Bhupal, is set to acquire Indian Hotels' 25.5% stake in Taj gvk Hotels & Resorts for Rs 592 crore, becoming the largest shareholder. This move increases the gvk Reddy family's stake to approximately 75%, while Indian Hotels will continue to manage the hotel portfolio under long-term contracts.

“Citigroup Global Markets India Pvt Ltd is the financial advisor to gvk for the transaction. ADIA and NIIF were selected as the preferred partners by gvk following this process. All proceeds from the proposed transaction will be used by gvk towards retiring debt obligations,” gvk said in a statement.

Countering criticism that frequent breakdowns were seriously affecting the functioning of 108 ambulance services across the state, the gvk Emergency Management and Research Institute (EMRI) on Friday clarified that the quality and response time of emergency services in fact had improved over the past two years.

The gvk Group is raising its stake in Mumbai airport to over 50%. gvk Airport Holdings Private Ltd on Wednesday said it has signed a share purchase agreement with Bid Services Division (Mauritius), or BSDM, for purchasing an additional 13.5% stake in Mumbai International Airport (MIAL).

gvk Power and Infrastructure Ltd on Friday posted a marginal rise of 1.48 per cent in its consolidated net profit to Rs 156.15 crore during the quarter ended September 2023, helped by increased income. It had clocked a net profit of Rs 153.87 crore during the July-September quarter of the preceding fiscal, the company said in a regulatory filing.

The high court has scheduled for November 26 its final hearing in a petition challenging the state’s MoU with private entity gvk–Emergency Management and Research Institute (gvk–EMRI ) that manages the 108 ambulance services.

City-based infra major gvk on Saturday said its non-profit arm, gvk EMRI (Emergency Management and Research Institute), had launched the 102 National Ambulance Service in Uttar Pradesh.

Six Indian banks are pursuing a trial in the High Court of London against gvk Coal Developers (Singapore) and associated companies for unpaid loans amounting to around $2 billion. The case dates back to 2011 and 2014 when loan facilities were provided to the company, which the banks claim are long overdue. The trial, which began on Tuesday, will last for two weeks.

gvk Power & Infrastructure Ltd said it will sell 33% stake in Bangalore International Airport Ltd (BIAL) to Canadian investor Prem Watsa-led Fairfax India Holdings Corp and Fairfax Financial Holdings Ltd for about Rs 2,149 crore ($321 million) to reduce debt.

Mumbai International Airport Pvt Ltd (MIAL), a gvk-led consortium, on Wednesday awarded 1.16 million square feet of land parcel at the airport for Rs 580 crore to Oasis Realty Pvt Ltd for commercial development.

Diversified group gvk Power & Infrastructure plans to raise more than Rs 3,000 crore by listing its airports arm.

gvk Power and Infrastructure has acquired L&T’s 17% stake in Bangalore International Airport Limited (BIAL) for a total consideration of Rs 686 crore.

City-based infrastructure giant gvk group said on Friday it has agreed to pay $1.26 billion to acquire coal projects owned by Australian heiress Gina Rinehart-run Hancock group.

According to a project update report, gvk said the process for acquiring the remaining 25 per cent of the land will be initiated shortly.

Malaysia Airports Holdings Berhad is evaluating a potential minority share purchase in gvk Airports Holdings, which runs the existing Mumbai international airport and has rights to develop a second one in the city.

The CBI carried out searches at the premises of gvk Group companies in Mumbai and Hyderabad on Wednesday after registering a case of cheating and forgery against the group, its chairman G Venkata Krishna Reddy, and Mumbai International Airport Ltd (MIAL) MD Sanjay Reddy

"gvk has come forward to help Pranjala realise her dream and this gesture has been prompted purely to support the talented player," said a media release from the company.